①Where a special business heir, etc. has acquired, by inheritance or bequest from a person specified by Cabinet Order as an individual who held specified business assets (referred to as the "decedent" hereinafter in this Article), all of the specified business assets relating to the business of the decedent (excluding, in the case where all or part of those specified business assets are jointly owned by two or more persons, the part relating to the shares of co-ownership held by persons other than that decedent) (limited to an acquisition during the period from January 1, 2019 to December 31, 2028 that is the first acquisition by inheritance or bequest to which the provisions of this paragraph apply or an acquisition by inheritance or bequest made by the day on which one year has elapsed from the day of that acquisition or any other day specified by Cabinet Order), with regard to the inheritance tax equivalent to the inheritance tax subject to deferral relating to those specified business assets that are stated in the inheritance tax return (meaning a return filed by the due date under the provisions of Article 27, paragraph (1) of the Inheritance Tax Act; the same applies hereinafter in this Article) relating to that inheritance as assets for which the special business heir, etc. seeks the application of the provisions of this paragraph (referred to as "special business assets" hereinafter in this Article), out of the amount of inheritance tax that the special business heir, etc. is to pay by filing that inheritance tax return, a grace period for the payment of that tax is granted until the day of the death of the special business heir, etc., notwithstanding the provisions of Article 33 of that Act, only if the special business heir, etc. has provided security equivalent to that inheritance tax subject to deferral by the due date for filing that inheritance tax return.

②In this Article, the meanings of the terms set forth in the following items are as prescribed in those items:

③In the case where the special business heir, etc. to whom the provisions of paragraph (1) apply, the special business assets referred to in that paragraph or the business relating to those special business assets has come to fall under any of the cases listed in the following items, notwithstanding the provisions of that paragraph, the deadline of the tax payment grace period under the provisions of that paragraph is the day on which two months have elapsed from the day specified in the relevant item:

④In the case where all or part of the special business assets to which the provisions of paragraph (1) apply have ceased to be used for the business of the special business heir, etc. (excluding the cases listed in the items of the preceding paragraph and the case specified by Cabinet Order as a case where it has become difficult to use them for that business), notwithstanding the provisions of paragraph (1), the deadline of the tax payment grace period under the provisions of that paragraph for the inheritance tax equivalent to the amount calculated pursuant to the provisions of Cabinet Order as the amount of the part corresponding to the part that has ceased to be used for that business, out of the inheritance tax subject to deferral (excluding, in the case where the provisions of this paragraph have already been applied, the amount calculated pursuant to the provisions of Cabinet Order as the amount corresponding to the value of the special business assets to which the provisions of this paragraph have been applied; referred to as the "amount of inheritance tax under a grace period" hereinafter in this Article), is the day on which two months have elapsed from the day on which they ceased to be used for that business.

⑤In the case referred to in the preceding paragraph, where the reason for which the assets ceased to be used for the business referred to in that paragraph is a transfer of special business assets, if approval has been obtained from the district director with jurisdiction over the place for tax payment, pursuant to the provisions of Cabinet Order, for the expectation that, within one year from the day on which that transfer took place, assets to be used for the business of the special business heir, etc. (limited to the assets listed in paragraph (2), item (i), (a) or (b) or the assets specified in (c) of that item) will be acquired with all or part of the amount of consideration for that transfer, the following provisions apply with regard to the application of the provisions of the preceding paragraph:

⑥In the case referred to in paragraph (4), where the reason for which the assets ceased to be used for the business referred to in that paragraph is a transfer of all of the special business assets through a capital contribution in kind upon the incorporation of a company after the day on which five years have elapsed from the day following the specified return due date (meaning the due date for filing the inheritance tax return relating to the first inheritance to which the provisions of paragraph (1) apply of the special business heir, etc. to whom the provisions of that paragraph apply, or the due date for filing the gift tax return prescribed in Article 70-6-8, paragraph (1) for the year that includes the day of the first gift to which the provisions of that paragraph apply, whichever is earlier; the same applies in paragraph (10) and paragraph (15), item (ii)), if approval has been obtained from the district director with jurisdiction over the place for tax payment, pursuant to the provisions of Cabinet Order, for that transfer of the special business assets, then, with regard to the application of the provisions of paragraph (4), the transfer relating to that approval is deemed not to have taken place, and the shares or equity interests acquired through that capital contribution in kind are deemed to be special business assets to which the provisions of paragraph (1) apply (including, in the case where that company has been extinguished through a merger or in any other case specified by Order of the Ministry of Finance, those specified by Order of the Ministry of Finance as equivalent to the shares or equity interests of that company). In this case, necessary matters concerning the application of the provisions of paragraphs (3), (4), (15) and (17) through (19) after that approval has been obtained are specified by Cabinet Order.

⑦With regard to the application of the provisions of paragraph (1) in the case where, by the due date for filing the inheritance tax return relating to the inheritance referred to in that paragraph, all or part of the assets used for the business of the decedent that were acquired through that inheritance or bequest have not yet been divided among the co-heirs or universal legatees, the assets that have not been divided may not be stated in that inheritance tax return as assets to which the provisions of that paragraph are to be applied.

⑧The provisions of paragraph (1) do not apply to specified business assets acquired by inheritance or bequest from the decedent if, with regard to assets used for the same business as the business relating to those specified business assets, there is another special business heir, etc. who is receiving the application of the provisions of that paragraph, another special business heir, etc. who seeks to receive the application of the provisions of that paragraph, or another special business donee prescribed in Article 70-6-8, paragraph (2), item (ii) who is receiving the application of the provisions of paragraph (1) of that Article.

⑨The provisions of paragraph (1) do not apply in the case where the inheritance tax return relating to the assets used for business that the special business heir, etc. seeking the application of the provisions of that paragraph acquired by inheritance or bequest from the decedent does not state that the special business heir, etc. seeks the application of the provisions of that paragraph for all or part of those assets, or where a document stating details of those assets, details concerning the calculation of the inheritance tax subject to deferral and other matters specified by Order of the Ministry of Finance is not attached to that return.

⑩If, during the period from the day following the due date for filing the inheritance tax return relating to the inheritance referred to in paragraph (1) until the day on which the deadline of the tax payment grace period under the provisions of that paragraph, paragraph (3), paragraph (4), paragraph (12) or paragraph (13) is fixed for all of the inheritance tax equivalent to the amount of inheritance tax under a grace period, there is a special inheritance report base date (meaning each day on which a period of three years elapses from the day following the specified return due date), the special business heir, etc. to whom the provisions of paragraph (1) apply must, by the notification deadline (meaning the day on which three months have elapsed from the day following that special inheritance report base date; the same applies in the following paragraph, paragraph (12) and paragraph (16)), submit to the district director with jurisdiction over the place for tax payment, pursuant to the provisions of Cabinet Order, a written notification stating that the special business heir, etc. wishes to continue to receive the application of the provisions of paragraph (1) and matters concerning the business relating to the special business assets referred to in that paragraph.

⑪With regard to the prescription of the national government's right to collect the inheritance tax equivalent to the amount of inheritance tax under a grace period and the interest tax and delinquent tax relating to that inheritance tax, except in the case where the provisions of Article 73, paragraph (4) of the Act on General Rules for National Taxes as applied by replacing terms pursuant to paragraph (14), item (iii) apply, the prescription is not completed during the period from the time of submission of the written notification referred to in the preceding paragraph until the notification deadline of that written notification, and is to begin to run anew from the day following that notification deadline.

⑫In the case where the written notification referred to in paragraph (10) is not submitted to the district director with jurisdiction over the place for tax payment by the notification deadline, notwithstanding the provisions of paragraph (1), the deadline of the tax payment grace period under the provisions of that paragraph for the inheritance tax equivalent to the amount of inheritance tax under a grace period as of that notification deadline is the day on which two months have elapsed from the day following that notification deadline.

⑬In the following cases, the district director may accelerate the deadline of the tax payment grace period under the provisions of paragraph (1) relating to the inheritance tax equivalent to the amount of inheritance tax under a grace period. In this case, the provisions of Article 49, paragraphs (2) and (3) of the Act on General Rules for National Taxes apply mutatis mutandis:

⑭With regard to the application of the provisions of the Act on General Rules for National Taxes, the National Tax Collection Act and the Inheritance Tax Act in the case where a special business heir, etc. seeks the application of the provisions of paragraph (1) or a tax payment grace period has been granted under the provisions of that paragraph, the following provisions apply:

⑮In the case where the special business heir, etc. to whom the provisions of paragraph (1) apply has come to fall under any of the following cases (excluding the case where, before the day on which the special business heir, etc. came to fall under that case, the deadline of the tax payment grace period under the provisions of paragraph (3), paragraph (4), paragraph (12) or paragraph (13) has been fixed for all of the inheritance tax equivalent to the amount of inheritance tax under a grace period), the inheritance tax equivalent to the amount of inheritance tax under a grace period is exempted. In this case, the special business heir, etc. or the heir of the special business heir, etc. (including a universal legatee; the same applies in paragraph (27)) must, during the period from the day on which the special business heir, etc. came to fall under that case until the day on which six months have elapsed from that day (or, in the case where the special business heir, etc. has come to fall under the case listed in item (ii), from the day on which the person who received the gift of the special business assets referred to in that item filed the gift tax return prescribed in Article 70-6-8, paragraph (1) to which the provisions of that paragraph apply with regard to those special business assets) (referred to as the "deadline for notification of exemption" in the following paragraph), submit to the district director with jurisdiction over the place for tax payment, pursuant to the provisions of Cabinet Order, a written notification stating the matters specified by Order of the Ministry of Finance.

⑯Even in the case where the written notification referred to in paragraph (10) or the preceding paragraph has not been submitted by the notification deadline or the deadline for notification of exemption, if the district director prescribed in those provisions finds that there were unavoidable circumstances for the failure to submit it within those time limits and that written notification has been submitted to that district director pursuant to the provisions of Cabinet Order, that written notification is deemed to have been submitted within those time limits with regard to the application of the provisions of paragraph (12) or the preceding paragraph.

⑰In the case where the special business heir, etc. to whom the provisions of paragraph (1) apply has come to fall under any of the cases listed in the following items (excluding the case where, before the day on which the special business heir, etc. came to fall under that case, the deadline of the tax payment grace period under the provisions of paragraph (3), paragraph (4), paragraph (12) or paragraph (13) has been fixed for all of the inheritance tax equivalent to the amount of inheritance tax under a grace period), if the special business heir, etc. seeks an exemption from the inheritance tax specified in the relevant item, the special business heir, etc. must, by the day on which two months have elapsed from the day on which the special business heir, etc. came to fall under that case, submit to the district director with jurisdiction over the place for tax payment a written application stating that the special business heir, etc. wishes to receive that exemption, the amount equivalent to the inheritance tax for which the special business heir, etc. seeks that exemption (referred to as the "amount of inheritance tax applied for exemption" in paragraph (23)), details of its calculation and other matters specified by Order of the Ministry of Finance (limited to a written application to which the documents specified by Order of the Ministry of Finance as documents necessary for the procedure for that exemption are attached):

⑱In the case where the special business heir, etc. to whom the provisions of paragraph (1) apply has come to fall under any of the cases listed in the following items (limited to the case where a reason specified by Cabinet Order as a reason making it difficult for the special business heir, etc. to continue the business relating to the special business assets has arisen, and excluding the case where, before the day on which the special business heir, etc. came to fall under that case, the deadline of the tax payment grace period under the provisions of paragraph (3), paragraph (4), paragraph (12) or paragraph (13) has been fixed for all of the inheritance tax equivalent to the amount of inheritance tax under a grace period), if the special business heir, etc. seeks an exemption from the inheritance tax specified in the relevant item, the special business heir, etc. must, by the day on which two months have elapsed from the day on which the special business heir, etc. came to fall under that case, submit to the district director with jurisdiction over the place for tax payment a written application stating that the special business heir, etc. wishes to receive that exemption, the amount equivalent to the inheritance tax for which the special business heir, etc. seeks that exemption (referred to as the "amount of inheritance tax applied for exemption" in paragraph (23)), details of its calculation and other matters specified by Order of the Ministry of Finance (limited to a written application to which the documents specified by Order of the Ministry of Finance as documents necessary for the procedure for that exemption are attached):

⑲In the case where a confirmation order for a rehabilitation plan under the provisions of the Civil Rehabilitation Act has been issued with regard to the special business heir, etc. referred to in paragraph (1) (including the case where a fact specified by Cabinet Order as equivalent to a confirmation order for a rehabilitation plan has occurred), when an assessment specified by Cabinet Order has been made of the assets held by the special business heir, etc. (excluding the case where, on or after the day on which that confirmation order was issued (or, in the case where the fact specified by that Cabinet Order has occurred, the day on which the debt workout plan was formed; referred to as the "date of the confirmation order" hereinafter through paragraph (21)) and before the day on which the notice under the provisions of paragraph (22) is issued, the deadline of the tax payment grace period under the provisions of paragraph (3), paragraph (4), paragraph (12) or paragraph (13) has been fixed for all of the inheritance tax equivalent to the amount of inheritance tax under a grace period, and limited, for a special business heir, etc. who is performing a rehabilitation plan, to the case where a supervisor or trustee has been appointed), the recalculated deferred inheritance tax is to be the amount of inheritance tax under a grace period relating to the special business assets. In this case, notwithstanding the provisions of paragraph (1), the deadline of the tax payment grace period under the provisions of that paragraph for the inheritance tax equivalent to the amount listed in item (ii) is the day on which two months have elapsed from the day on which that notice is issued, and the inheritance tax equivalent to the remaining amount after deducting the sum of the following amounts from the amount of inheritance tax under a grace period (referred to as "inheritance tax exempted on recalculation" in paragraph (22)) is exempted:

⑳The term "recalculated deferred inheritance tax" referred to in the preceding paragraph means the amount calculated under the provisions of paragraph (2), item (iii) by deeming the value, as of the date of the confirmation order, of the special business assets to which the provisions of paragraph (1) apply (limited to the part corresponding to the amount of inheritance tax under a grace period) to be the value, at the time of the commencement of the succession, of the special business assets acquired through the inheritance to which the provisions of that paragraph apply.

（二十一）The provisions of paragraph (19) apply only in the case where the special business heir, etc. seeking the application of the provisions of that paragraph has, by the day on which two months have elapsed from the date of the confirmation order, submitted to the district director with jurisdiction over the place for tax payment a written application stating that the special business heir, etc. wishes to receive the application of the provisions of that paragraph, the recalculated deferred inheritance tax prescribed in the preceding paragraph, details of its calculation and other matters specified by Order of the Ministry of Finance (limited to a written application to which the documents specified by Order of the Ministry of Finance as documents concerning the rehabilitation plan (including a debt workout plan) for which the confirmation order prescribed in paragraph (19) was issued are attached).

（二十二）In the case where a written application under the provisions of paragraph (17), paragraph (18) or the preceding paragraph has been submitted, the district director conducts an investigation into the matters stated in that written application, and either grants an exemption from the inheritance tax specified in the relevant item of paragraph (17) or paragraph (18) according to the category of the cases listed in those items or from the inheritance tax exempted on recalculation, or dismisses the application relating to that written application. In this case, the district director is to notify the special business heir, etc. who submitted that written application of the amount of the inheritance tax so exempted or the amount of that inheritance tax exempted on recalculation, or of the dismissal and the reason therefor, by means of a document stating them, within six months counting from the day following the deadline for the application relating to that written application.

（二十三）If the district director, in the case where the written application referred to in paragraph (17) or paragraph (18) has been submitted, finds that there are reasonable grounds, the district director may grant a grace period for the collection of the inheritance tax equivalent to the amount of inheritance tax applied for exemption relating to that application, during the period from the due date for payment relating to that written application (meaning the day listed in the right-hand column of item (v) or item (vi) of the table in paragraph (26), according to the category of the cases listed in the left-hand column of item (v) or item (vi) of that table) or the day on which that written application was submitted, whichever is later, until the day on which one month has elapsed on or after the day following the day on which the notice under the provisions of the preceding paragraph was issued.

（二十四）In the case where a special business heir, etc. receives the application of the provisions of paragraph (17), item (i) or paragraph (18), item (i) or (ii), if the district director finds that there is an unavoidable reason for the special business heir, etc.'s being unable to determine the appropriate market value, the district director may grant an exemption from the amount of the part of the delinquent tax on the inheritance tax that has become payable as a result of coming to fall under the case listed in the left-hand column of item (v) or item (vi) of the table in paragraph (26) that corresponds to the period from the day following the due date for payment prescribed in the preceding paragraph until the day on which one month has elapsed on or after the day following the day on which the notice under the provisions of paragraph (22) was issued.

（二十五）Beyond what is provided for in paragraph (21) through the preceding paragraph, necessary matters concerning the application of the provisions of paragraphs (17) through (19) are specified by Cabinet Order.

（二十七）In the case where, by the deadline of the tax payment grace period prescribed in paragraph (3), paragraph (4), paragraph (12) or paragraph (19), the due date for submitting the written application prescribed in paragraph (17), paragraph (18) or paragraph (21), the due date for payment prescribed in paragraph (23), or the end of the period forming the basis for calculating the interest tax prescribed in the preceding paragraph (limited to the interest tax relating to item (v) or item (vi) of the table in that paragraph), the special business heir, etc. prescribed in those provisions has died, notwithstanding those provisions, the deadline of the tax payment grace period, the due date for submitting the written application, the due date for payment or the end of the period forming the basis for calculating the interest tax prescribed in those provisions is, respectively, the day on which six months have elapsed from the day following the day on which the heir of that special business heir, etc. came to know of the commencement of the succession due to the death of that special business heir, etc.

（二十八）The Minister of Economy, Trade and Industry or the Director-General of a Bureau of Economy, Trade and Industry must, if either of them has come to know, as a result of having made a certification or confirmation, accepted a report or taken any other action based on the provisions of laws and regulations with regard to a fact relating to the fixing of the deadline of the tax payment grace period under the provisions of paragraph (3) or paragraph (4) with respect to the special business heir, etc. to whom the provisions of paragraph (1) apply, the special business assets referred to in that paragraph or the business relating to those special business assets, that the fact has occurred, notify the Commissioner of the National Tax Agency or the district director with jurisdiction over the place for tax payment of that special business heir, etc. in writing, without delay, that the fact has occurred with regard to that business and of other matters specified by Order of the Ministry of Finance.

（二十九）If the district director, in the case referred to in paragraph (1), finds it necessary for the proper and reliable handling of the affairs of the Minister of Economy, Trade and Industry or the Director-General of a Bureau of Economy, Trade and Industry (limited to affairs concerning the special business heir, etc. to whom the provisions of that paragraph apply that relate to the application of the provisions of the preceding paragraph), the district director may notify the Minister of Economy, Trade and Industry or the Director-General of a Bureau of Economy, Trade and Industry that the special business heir, etc. receives the application of the provisions of paragraph (1), and of other matters specified by Order of the Ministry of Finance.

（三十）With regard to the application of the provisions of paragraph (1) in the case where those provisions are applied to the special gifted business assets prescribed in paragraph (1) of the preceding Article that have been deemed to have been acquired by inheritance or bequest under the provisions of that paragraph (including as applied by replacing terms pursuant to paragraph (2) of that Article), the phrase "limited to an acquisition during the period from January 1, 2019 to December 31, 2028 that is the first acquisition by inheritance or bequest to which the provisions of this paragraph apply or an acquisition by inheritance or bequest made by the day on which one year has elapsed from the day of that acquisition or any other day specified by Cabinet Order" in paragraph (1) is deemed to be replaced with "including that acquisition in the case where assets are deemed to have been acquired by inheritance or bequest under the provisions of paragraph (1) of the preceding Article (including as applied by replacing terms pursuant to paragraph (2) of that Article); the same applies hereinafter in this Article, except in paragraphs (5) through (7)", and those special gifted business assets are deemed to be specified business assets.

（三十一）Beyond what is provided for in paragraph (3) through the preceding paragraph, necessary matters concerning the application of paragraph (1) are specified by Cabinet Order.